Wednesday, April 20, 2011

Gary Veynerchuk: "The Thank You Economy"

Business Insider reporting:

Gary Vaynerchuk's great new book "The Thank You Economy" came out yesterday. The book is a big wet kiss to customers everywhere. From where Gary sits, anyone who doesn't prioritize customers and the customer experience is making a huge mistake. His book talks to the importance of using technology to understanding your customers and deliver a personalized experience -- not a generic "thank you," but rather a "thank you" that knows who your best customers are and how best to thank them.
Gary is clearly a man who puts his money where his mouth is. His best customers at his multimillion dollar wine shop have always been thanked and rewarded. Before the advent of social media, that was good business. It resulted in loyal customers and great word of mouth. But in this era of Facebook and Twitter and blogs, it is absolutely necessary. Social media tools greatly amplify positive voices but, even more so, negative ones. As Gary predicted here on MSNBC, those businesses that don't pay attention to their customers will face the same fate as did Borders and Blockbuster. The Startup Economy is all about the ROI of social media, for better or for worse.
http://www.businessinsider.com/gary-veynerchuks-the-thank-you-economy-2011-3

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